MEXICO CITY, June 29 (Reuters) - Latin American pulp prices are set to benefit from improved demand and lower inventories, credit rating agency Fitch Ratings said on Thursday.
Pulp prices in Latin America, home to top global pulpmakers like Brazil's Suzano and Chile's Arauco, have begun to stabilize for pulp and paper issuers after a sharper-than-expected drop from record 2022 levels, Fitch said in a statement, adding that prices should remain within their ratings case expectations.
It added it expects average prices for bleached hardwood kraft pulp exported to China to be $650 per metric ton in 2023 - nearly 25% below the record high prices of $860 per metric ton between July and October of 2022, but up over 40% from their low of $460 per metric ton seen last May. (Reporting by Marion Giraldo; Writing by Carolina Pulice; Editing by Christopher Cushing)
